abrdn Asia-Pacific Income Fund (NYSEAMERICAN:FAX) Director Peter Gerald Malone Buys 600 Shares

Key Points

• Director Peter Gerald Malone purchased 600 shares of abrdn Asia-Pacific Income Fund (NYSEAMERICAN:FAX) at an average price of $16.78 each, increasing his total ownership by 361.45% to 766 shares.
• The fund recently announced a monthly dividend of $0.165 per share, equivalent to an annualized yield of 12.2%, payable on September 30th.
• As of the latest trading session, FAX shares were down 0.7% to $16.29, with a trading volume significantly higher than its average.

abrdn Asia-Pacific Income Fund, Inc. (NYSEAMERICAN:FAX - ) Director Peter Gerald Malone bought 600 shares of the business's stock in a transaction on Friday, September 26th. The shares were bought at an average price of $16.78 per share, for a total transaction of $10,068.00. Following the completion of the acquisition, the director owned 766 shares of the company's stock, valued at approximately $12,853.48. This represents a 361.45% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website.

abrdn Asia-Pacific Income Fund Stock Down 0.7%

Shares of FAX traded down $0.11 on Tuesday, hitting $16.29. The company's stock had a trading volume of 508,673 shares, compared to its average volume of 145,795. abrdn Asia-Pacific Income Fund, Inc. has a fifty-two week low of $13.99 and a fifty-two week high of $17.49. The company has a 50 day moving average price of $16.36 and a 200 day moving average price of $15.87.

abrdn Asia-Pacific Income Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 23rd will be issued a $0.165 dividend. The ex-dividend date is Tuesday, September 23rd. This represents a c) annualized dividend and a yield of 12.2%.

Institutional Trading of abrdn Asia-Pacific Income Fund

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Private Advisor Group LLC grew its position in abrdn Asia-Pacific Income Fund by 2.7% during the 1st quarter. Private Advisor Group LLC now owns 32,782 shares of the investment management company's stock worth $515,000 after acquiring an additional 864 shares during the last quarter. Schwarz Dygos Wheeler Investment Advisors LLC boosted its position in shares of abrdn Asia-Pacific Income Fund by 2.5% in the 1st quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 46,264 shares of the investment management company's stock worth $726,000 after purchasing an additional 1,116 shares during the last quarter. Creative Planning lifted its holdings in abrdn Asia-Pacific Income Fund by 6.9% during the second quarter. Creative Planning now owns 21,167 shares of the investment management company's stock worth $337,000 after acquiring an additional 1,364 shares in the last quarter. Osaic Holdings Inc. lifted its holdings in abrdn Asia-Pacific Income Fund by 1.2% during the second quarter. Osaic Holdings Inc. now owns 139,708 shares of the investment management company's stock worth $2,224,000 after acquiring an additional 1,623 shares in the last quarter. Finally, Cetera Investment Advisers lifted its holdings in abrdn Asia-Pacific Income Fund by 1.1% during the first quarter. Cetera Investment Advisers now owns 211,501 shares of the investment management company's stock worth $3,321,000 after acquiring an additional 2,255 shares in the last quarter. 33.55% of the stock is currently owned by institutional investors.

About abrdn Asia-Pacific Income Fund

Abrdn Asia-Pacific Income Fund Inc is a close ended fixed income mutual fund launched and managed by Aberdeen Standard Investments (Asia) Limited. It is co-managed by Aberdeen Standard Investments Australia Limited and Aberdeen Asset Managers Limited. The fund invests in fixed income markets of Asia, Australia, and New Zeland.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.